HomeMy WebLinkAboutReport - Read Before Packet - 1/14/2014 - Power Point Slides From Tom Leeson Re: Historical Mall Sales Net Taxable Sales - Adjourned Mtg. Item 11
Historical Mall Sales Net Taxable Sales
Estimated Net Taxable Sales at the Mall Began to Decline in 2001….
Data is Not Adjusted for Inflation – Actual Deterioration is Worse
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Historical Mall Net Taxable Sales
Net Taxable Sales at the Mall Began to Decline in 2001….
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Impacts of Tax Increment Investment Fort Collins
DDA
DDA District Higher % Growth in Assessed Value
In the years 1981 through 2012, the assessed property value in the
DDA district grew 30% more than that of overlapping tax
entities. See graph at right. The sustained and concentrated
investment of tax increment in this redevelopment district is
contributing to the increased growth of property value. At the
conclusion of the DDA’s statutory tax increment collection period,
the overlapping tax entities, which include Poudre School District
and Larimer County, will receive the full benefit of this higher
assessed value in the form of net new property tax revenue.
Shared Tax Increment
Revenue
The DDA Act requires a share back
of tax increment with overlapping
entities during the final 20 years of
the statutory collection period.
Estimated tax increment revenues
from individual projects approved
by the DDA from 2009 to Oct. 2013
are expected to generate $47.43
million through 2031. See table at
left. Overlapping tax entities will
receive an estimated $21.34 million
in shared tax increment revenue
from these projects. See chart at
right.
200%
PSD LarCo DDA
Percent Growth in Assessed
Value
1981 to 2012
400%
600%
Approved DDA Projects
(2009 to current)
Estimated TIF
Generated thru
2031
1 Old Town Square $190,000
101 - 105 S. College Avenue $390,000
1020 E. Lincoln Avenue $2,370,000
137 Mathews Street $80,000
141 Montezuma Fuller Alley $40,000
144 W. Mountain Avenue $110,000
203 W. Mulberry Street $1,110,000
204 Maple Street $1,610,000
209 S. Meldrum Street $3,570,000
210 Maple Street $230,000
212 W. Mulberry Street $210,000
262 E. Mountain Avenue $3,440,000
306 W. Laurel Street $1,190,000
311 N. Mason Street $520,000
331 S. Meldrum Street $3,480,000
359 Linden Street $2,150,000
415 S. Mason Street $260,000
418 Linden Street $2,290,000
777 E. Lincoln Avenue $22,200,000
800 E. Lincoln Avenue $1,990,000
$47,430,000
$13.76
$5.92
$1.66
$26.09
Shared Tax Increment Distribution to
Overlapping Tax Entities thru 2031
(enabled by amended DDA Act)
Estimated $ in millions
PSD LarCo Other DDA